Washington (AFP) – stagflation. It was the dreaded “bad word” of the ’70s. For Americans of a certain age, it evokes memories of the agonizing long queues at gas stations, shuttered factories, and President Gerald Ford’s so much derided “whip swell now” buttons. Stagflation is the most bitter economic pill: high inflation mixes with a … Read more
Editor’s note: Lakshman Akuthan and Anirvan Banerjee are co-founders of the Economic Cycle Research Institute (ECRI). The opinions expressed in this comment are their own. The economy is about to enter a recession, perhaps as soon as this year. To avoid a major financial hit, Americans will need to prepare. Last summer, we wrote that … Read more
DAVOS, Switzerland (AP) – Inflation is rising. Russia’s war in Ukraine. Supply chains are shrinking. The threat of food insecurity around the world. The protracted COVID-19 pandemic. The risks to the global economy are many, leading to an increasingly bleak outlook for the months ahead for corporate leaders, government officials and other dignitaries at the … Read more
Over the past year, the personal savings rate among American consumers has fallen from 26.6% in March 2021 to 6.2% in March 2022. This means that Americans put less personal disposable income towards saving. Individuals may be restricted in how much they can save amid the recent high inflation rates, causing soaring prices for groceries, … Read more
TOKYO (AFP) – President Joe Biden on Monday launched a new trade deal with 12 Indo-Pacific nations aimed at boosting their economies as he warned Americans worried about rising inflation that it “will be a burden” before they can get comfortable. The president said he doesn’t think recession is inevitable in the United States Biden, … Read more
